DUBLIN, November 8, 2017 /PRNewswire/ --
The "Hybrid System Market by System (Start-Stop, Regenerative Braking, EV Drive, eBoost), Component (Battery, DC/DC Converter, DC/AC Inverter, eMotor), Battery (Li-Ion, Lead Acid, NiMH), Vehicle (Mild Hybrid, HEV, PHEV, EV) - Global Forecast to 2022" report has been added to Research and Markets' offering.
The hybrid system market is projected to grow at a CAGR of 10.79% during the forecast period and is projected to reach USD 40.99 Billion by 2022
Owing to the benefits offered by hybrid system, such as elimination of mechanical linkages, improved fuel efficiency and, thereby, decreased tail-pipe emissions, the demand for these systems is projected to grow in near future. Also, secondary factors such as increase in demand for electric & hybrid vehicles, government subsidies for BEVs, and investments in charging infrastructure will fuel the demand for hybrid systems in the coming years.
Asia Pacifc is estimated to be the largest hybrid system market owing to the increasing electric vehicle sales in countries such as China and Japan. The electric vehicle sales in China and Japan is expected to increase from 0.49 million units and 1.09 million units in 2016 to 2.17 million units and 2.1 million units in 2022, respectively. The Chinese government's move towards working on a time table to end the production and sales of gasoline as well as diesel cars and Japanese government's Next-Generation Vehicle Strategy 2010, which targets the market share of electric vehicles sales is 50% of total vehicle sales by the end of year 2020, are expected to increase the market of electric vehicles in the Asia Pacific region. Thus, the market for hybrid sytems is also slated to increase with the increasing electric vehicles in the region.
The factor that is restraining the market is the lack of standardization of hybrid technologies such as high voltage battery. There is no such specific industry standards or specification available. The components such as electric motors, starter generators, and energy storage systems can be standardized in order to decrease the R&D cost of developing the hybrid systems. Standardizing the system components is difficult for the manufacturers, and this restrains the market growth. The hybrid system market comprises several regional players and is dominated by a few global players.
Some of the key manufacturers operating in the market are Bosch (Germany), Continental (Germany), Denso (Japan), ZF (Germany), and Johnson Controls (US).
- Rising Demand for Mild Hybrid Vehicles
- Increased Fuel Efficiency With the Adoption of Mild Hybrids
- Rising Government Incentives for the Adoption of Mild Hybrids
- Increasing Demand for Higher Voltage Systems to Increase Hybridization
- Lack of Standardization of Hybrid Technologies
- Growing Electric Vehicle Infrastructure
- Government Policies and Incentives for Electric Vehicle Charging Stations
- Developing Charging Technologies and Infrastructure for Electric Vehicles
- Electrification and Hybridization in the Commercial Vehicles
- Cost Reduction and High-Energy Density EV Batteries
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Hybrid System Market, By Battery Type and Region
7 Mild Hybrid System Market, By System Type and Region
8 Hybrid System Market, By Component & Region
9 Hybrid System Market, By Region, Vehicle Type & System Type
10 Competitive Landscape
11 Company Profiles
- Hitachi Automotive
- Johnson Controls
For more information about this report visit https://www.researchandmarkets.com/research/wt43t3/hybrid_system
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